28-2465. Affordable homeownership special plates; fund

A. If, by December 31, 2019, a person pays $32, 000 to the department for the implementation of this section, the department shall issue affordable homeownership special plates. The person that provides the $32, 000 shall design the affordable homeownership special plates. The design and color of the affordable homeownership special plates are subject to the approval of the department. The director may allow a request for affordable homeownership special plates to be combined with a request for personalized special plates. If the director allows such a combination, the request shall be in a form prescribed by the director and is subject to the fees for the personalized special plates in addition to the fees required for the affordable homeownership special plates.

B. Of the $25 fee required by section 28-2402 for the original special plates and for renewal of special plates, $8 is a special plate administration fee and $17 is an annual donation.

C. The department shall deposit, pursuant to sections 35-146 and 35-147, all special plate administration fees in the state highway fund established by section 28-6991 and all donations collected pursuant to this section in the affordable homeownership special plate fund established by this section.

D. The affordable homeownership special plate fund is established consisting of monies deposited pursuant to this section. The director shall administer the fund. The first $32, 000 in the fund shall be reimbursed to the person that paid the implementation fee to the department pursuant to subsection A of this section. Not more than ten percent of monies deposited in the fund annually shall be used for the cost of administering the fund. Monies in the fund are continuously appropriated.

E. The director shall annually allocate monies from the fund, excluding administrative fees, to a charitable organization that is qualified under section 501(c)(3) of the United States internal revenue code for federal income tax purposes and that meets all of the following:

1. Seeks to bring people together to build homes, communities and hope.

2. Focuses on providing shelter.

3. Advocates for affordable housing.

4. Promotes dignity and hope.

5. Supports sustainable and transformative development.

F. On notice from the director, the state treasurer shall invest and divest monies in the fund as provided in section 35-313, and monies earned from investment shall be credited to the fund.